From the November issue: In post-Madoff, post-Lehman Brothers New York, co-op and condo boards
are taking a turn as gumshoes. Experts say buildings are now conducting
increasingly extensive, and often costly, background checks of
prospective buyers. The investigations include everything from
reviewing litigation history — to see whether the buyer has been
involved in a lawsuit — to searching sex-offender registries. And to
make sure prospective neighbors are properly vetted, more boards are
now hiring private detective agencies. Andrew Harris, CEO of the 110-year-old, Manhattan-based
investigative firm Bishops Services, said he’s seen an uptick in
business recently from residential buildings, and that clients are now
requesting more in-depth searches.
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